Relating to the certification of a certified capital company.
Impact
The legislation amends the Insurance Code, specifically introducing measures that enable the Texas comptroller to handle decertifications efficiently. In doing so, the bill seeks to maintain oversight while easing certain regulatory burdens, which can enhance operational efficiency for certified capital companies. Removing the recapture and forfeiture of premium tax credits post-decertainment will likely appeal to companies, thus fostering a more conducive environment for capital investment.
Summary
Senate Bill 1744 focuses on the structure around certified capital companies in Texas, allowing for voluntary decertification by these companies. Under the proposed law, a certified capital company might request decertification if it has made qualified investments equaling its certified capital amount. Such flexibility is intended to encourage financial adaptability among these companies, especially as investment conditions evolve over time. By providing an exit option, the bill aims to make the certification process more responsive to market realities.
Contention
While the bill is viewed positively by some as a means of fostering economic growth and providing more control to capital companies, there could be concerns over the implications of relaxed oversight. Opponents might argue that allowing voluntary decertification without stringent checks could create loopholes for companies to exploit tax credits for which they are not deserving. This change in the legislation could, hence, erode the foundational purpose of the certification system, which aims to ensure that capital companies genuinely contribute to investment activities in the state.
Relating to creating abbreviated educator preparation programs for certification in marketing education and certification in health science technology education.
Relating to creating abbreviated educator preparation programs for certification in marketing education and certification in health science technology education.
Relating to state contracts with Chinese companies and investments in Chinese companies and certain companies doing business with China; authorizing a civil penalty.
Relating to public education and public school finance, including the rights, certification, and compensation of public school educators, contributions by a public school to the Teacher Retirement System of Texas, and an education savings account program for certain children.